Merck's 20-year patent on the popular cholesterol lowering drug Zocor expires today, and doctors say it may be a lifesaver for those who could not previously afford the drug.
"That has huge implications because of the 36 million Americans who are eligible for cholesterol lowering drugs. Only about half of them are taking the drugs, and one of the reasons is cost," said Dr. Steve Nissen of the Cleveland Clinic.
Frank Wolek, 71, began taking Zocor after a heart attack and pays as much as $125 a month for his prescription. "It's my most expensive drug that I take," Wolek said.
But as of tomorrow, he expects the price to drop more than 50 percent, a move he calls "wonderful."
Merck Price Cuts the Generics
In the next two years a host of popular drugs will lose their patents and generic versions will hit the market. This year alone, $22 billion worth of drugs will be affected.
Generics usually cost 30 to 50 percent less than their brand-name counterparts when they are initially available, and up to 80 percent less over time as more companies get into the market. With Zocor, prices are likely to drop quickly, and Merck is partly the cause.
In a first, the drug maker will slash the price of Zocor so that with some health plans it will be cheaper than the generic.
"I think they could be very successful at keeping market share by lowering their price," said A.G. Edwards, a pharmaceutical analyst with Albert Rauch.
United Healthcare, for example, will offer Zocor for a $10 a month co-pay and a generic version for $50.
One lawmaker is accusing Merck of trying to undermine generics and wants the Federal Trade Commission to investigate.
"Not only will it … drive the competition out of business, but they will do it on drug after drug after drug, and within a few years we won't have generic drugs anymore," said Sen. Charles Schumer, D-N.Y.
Merck says it's doing nothing illegal.
"What it is, is an attempt to compete and that is what we are doing," said Ian Spatz, Merck's vice president for public policy. "It is a marketplace chance and we were the only company selling Zocor until Friday — on Friday there are three and we need to compete."
The competition is heating up, and for now, the consumer is the winner.
Labels: No Prescription, Online Pharmacy, Prescription Drugs
# posted by Network @ 5:30 PM
